Australia's 40 Richest

#5 Andrew Forrest

Last year's No.

Last year's No. 1; shares of his Fortescue Metals Group dropped two-thirds because of slowing iron ore demand, falling prices. Firm recently sold stake to Chinese steel group. Under investigation by regulatory authorities for allegedly misleading investors in 2004 and 2005 by claiming Fortescue had signed binding contracts with China after deals fell through. Denies charges.